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All Forum Posts by: Account Closed

Account Closed has started 33 posts and replied 1696 times.

Post: Huge Inventory of PA Rentals for sale! Turnkey w/mgmt! 16% CAP!

Account Closed#1 BiggerPockets Exclusive PRO Area ContributorPosted
  • Professional Auctioneer
  • Baltimore, MD
  • Posts 1,857
  • Votes 1,470
Originally posted by @Kate Hall:

You bet, fellas!

@Account Closed, I scoured your profile for an email, but couldn't find anything; not even on the websites. I must be overlooking it.

@Scott Rye, what's a good email for you as well? Thanks!

 mailto:[email protected]

Post: Property Line questions

Account Closed#1 BiggerPockets Exclusive PRO Area ContributorPosted
  • Professional Auctioneer
  • Baltimore, MD
  • Posts 1,857
  • Votes 1,470

you should have a proper survey, the county should have a location survey that would indicate the property line.  I would talk to the neighbor to find out what their intentions are and to explain to them gently that you want to eliminate their access over your driveway. At that time determine what their attitude is. If you can't resolve the issue, you may not want to go forward with The purchase.alternatively you may want to use that negative issue to reduce the purchase price.

Post: Huge Inventory of PA Rentals for sale! Turnkey w/mgmt! 16% CAP!

Account Closed#1 BiggerPockets Exclusive PRO Area ContributorPosted
  • Professional Auctioneer
  • Baltimore, MD
  • Posts 1,857
  • Votes 1,470

Please forward the list. Address in profile. 

Post: Can you wholesale a deal won at the auction?

Account Closed#1 BiggerPockets Exclusive PRO Area ContributorPosted
  • Professional Auctioneer
  • Baltimore, MD
  • Posts 1,857
  • Votes 1,470

anything is possible with advanced creative real estate  formulas. 

Post: Looking for GC's in Harford County, MD

Account Closed#1 BiggerPockets Exclusive PRO Area ContributorPosted
  • Professional Auctioneer
  • Baltimore, MD
  • Posts 1,857
  • Votes 1,470

 You might be better off getting a property under contract first before starting to deal with general contractors. I would be glad to give you some ideas on how to get the work that you think you need done at a discounted price. Dealing with contractors can be a very dangerous. Find the deal and everything will come to you, cash buyers contractors and the sweet smell of profits.

Post: Looking for GC's in Harford County, MD

Account Closed#1 BiggerPockets Exclusive PRO Area ContributorPosted
  • Professional Auctioneer
  • Baltimore, MD
  • Posts 1,857
  • Votes 1,470

I can give some ideas, why do you need a GC?

Post: Can you wholesale a deal won at the auction?

Account Closed#1 BiggerPockets Exclusive PRO Area ContributorPosted
  • Professional Auctioneer
  • Baltimore, MD
  • Posts 1,857
  • Votes 1,470

It is a little tricky and risky, but possible, you would need to make arrangements before the auction with the auctioneer and permission of the trustee to have  immediate possession of the property. 

You should also have a longer then 30 days for settlement. 

 So if your purchase has a ton of equity, there is a possibility that you can have another auction - called a short date sale, to be held in front  of the subject house. With the delayed settlement  agreement, would give you time to clean the house up a little and market the house using the short date sale method.

 You would need a proper assignment agreement, full disclosures and the title company to arrange assignment and settlement and the collection of you're giant profits.

 In the event you miss calculated your equity potential, you should be fully ready and able to settle the transaction or be prepared to lose your initial deposit. 

Post: CPA specializing in Real Estate

Account Closed#1 BiggerPockets Exclusive PRO Area ContributorPosted
  • Professional Auctioneer
  • Baltimore, MD
  • Posts 1,857
  • Votes 1,470

You may want to call a local, investors for a referral.

Post: Private / Hard Money Louisville

Account Closed#1 BiggerPockets Exclusive PRO Area ContributorPosted
  • Professional Auctioneer
  • Baltimore, MD
  • Posts 1,857
  • Votes 1,470

if you a Control and Roll system, you'll never need a loan again when it comes to assignment of real estate. 

Post: looking for mentor

Account Closed#1 BiggerPockets Exclusive PRO Area ContributorPosted
  • Professional Auctioneer
  • Baltimore, MD
  • Posts 1,857
  • Votes 1,470

At 74 years old I have been investing and auctioning real estate now for 48 years. I have helped many understand this crazy business and how to profit using the assignment and auction concepts for short term profits.

I feel the frustration of those just getting started investing - issues of financing - finding the great equity packed cash flow property - the fear of negotiating and controlling buildings - the skills of marketing/flipping - the anticipation of cash flow - dealing with title companies, agents, contracts and assignments. 

This reply to your post is not a solicition to mentor you. Before you pay or select someone to mentor you - interview them like you are hiring them to work for your corporation. You may want to ----

  • qualify them - have a written agreement on what your new mentor is going to do for you and what they expect from you
  • Do they have a net worth of  a great net worth  - ask to look at their tax return - don't get emotional involved with a so called mentor, a mentor is NOT a person who has done a few deals or wrote a book or sold programs
  • Are they a full time investor or just blowing smoke and have no net substantial net worth 
  • Get references - talk to others they have mentored 
  • What's their crediting rating - if it's low - something is not right - how many law suits have they been involved in - what issues - bankruptcy- foreclosures - 
  • Will your mentor understand creative financing and nothing down techniques 
  • Knowledgeable on contract engineering ----
  • Hybrid contracts, delayed settlements, skinny contracts, commercial long form contract offers, control and roll systems, money back clauses, contract money back incentives, check funds, auctions flips, tax sales and foreclosure transactions, options and commercial flips, land and business developments, joint ventures .....
  • Don't be fooled by Big Hat and no cattle BS artist or useless books on how to get rich in real estate.

Anybody getting in this business can do a few deals, get lucky, be in the right place at the right time - when an investor performs and creates cash in this business on purpose - making large sums of money on purpose and design - than and only than he can call himself a successful investor.

Your prospective mentor dose not have to have all of the qualities above, but it is your duty to yourself and your new business to select a person who has the skills that will advance your knowledge and your cash flow on an accelerated basis. 

If you are like the most of us you are juggling you real job, balancing your family relationships, paying bills and finding the time to enter a new venture ------- time is not on your side - hire a mentor who understands your goals and needs.